New Year's resolution: trade Nasdaq stocks on NYSE Arca, save more money

By: Ray Pellecchia

File Under: NYSE Arca

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It's not a bigger interest-rate cut from the Fed, but it's good news for those who trade Nasdaq stocks:

NYSE Arca Price Change Will Offer Customers Most Attractive Rate Combination for Trading in Nasdaq-Listed Securities; New pricing will be effective Jan. 2, 2008

• NYSE Arca will offer new rebate/take fee combination of $(0.0024)/$0.0025 per share in Nasdaq-listed securities for active customers;
• Customers trading more on NYSE Arca will have the opportunity to receive a higher rebate and reduce their net fee to $0.0001/share;
• NYSE Arca will continue to offer the lowest take fee of $0.0025/share for all customers;
• NYSE Arca will also reduce its Tape B order routing fee by $.0005/share.

Excerpt from the news release:

In all Tape C securities (including ETFs), customers trading over 30 million average daily shares per month on NYSE Arca, including the provision of liquidity of more than 15 million average daily shares, will receive a higher rebate of $0.0024 when providing liquidity. This new pricing structure offers a higher rebate with a very attractive volume tier for more active customers trading Tape C securities on NYSE Arca. By trading more of their Tape C volume on NYSE Arca, customers will reduce their net rate by 80% to $0.0001/share. All NYSE Arca customers, regardless of volume levels, will continue to get the lowest take fee among major exchanges in Tape C securities of $0.0025/share.

For trading in all Tape B securities (including ETFs), NYSE Arca and AMEX-listed securities on NYSE Arca, the order routing fee will be reduced by $0.0005/share to $0.0035/share for all customers effective January 2, 2008.

Pricing remains unchanged on the NYSE and NYSE Arca in NYSE-listed securities (Tape A), which delivers the most attractive rate combination without volume tiers for all customers. The NYSE currently offers the lowest take fee of $0.0008/share and the highest rebate on NYSE Arca at $0.0025/share for all customers trading Tape A securities among the major exchanges.

“Our recent pricing changes in October resulted in the lowest fees for all customers among major U.S. exchanges, and our January changes will improve upon that by offering an attractive new rate in Nasdaq-listed securities with a reachable volume tier for many of our active customers,” said Larry Leibowitz, Executive Vice President and Chief Operating Officer, U.S. Products.

Hope that makes for a happy New Year for some of you Nasdaq traders.

Rather balmy in NY today, but that wasn't the case 47 years ago today:

Today in NYSE History
12 Dec. 1960 -- A snowstorm delayed the Opening Bell until 11 a.m.